Forum Uranium Corp.

Forum Uranium Corp.

September 09, 2008 07:00 ET

Forum Identifies Alteration Zone With Anomalous Uranium Geochemistry Northeast of Hathor's Roughrider Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2008) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that it has received geochemical results from 21 drill-holes completed in April, 2008 on its 100% owned Henday project in the Athabasca Basin of northern Saskatchewan. The Henday property is located along the northeast trend of deposits that host uranium mineralization at the AREVA/Denison Midwest Lake mine development project and the recent discovery of the Roughrider Zone by Hathor Exploration Ltd. (To view map please click on following link:

Illite alteration halos with anomalous geochemistry may be indicative of a fertile hydrothermal system, and is a common feature around all the known uranium deposits in this part of the Athabasca Basin (Midwest, Sue, McLean, Collins Bay and Cigar Lake). Two of Forum's drill holes successfully identified an illitic alteration halo with associated tectonization, quartz dissolution and anomalous geochemistry. In drill-hole RL-46, the alteration halo extends both upwards into the sandstone and downwards into the basement for a total of 50m in thickness (115 to 155m). The sandstone showed anomalous geochemistry just above the unconformity. A second drill-hole, RL-51 located 70m away, also intersected 32 metres of the alteration halo and returned anomalous geochemistry in the lower sandstone.

The main part of the halo appears to be located under the north end of Mallen Lake, which straddles the western border of Areva's McLean Lake project, but ice conditions did not allow for further drill testing of the target. Graphite was intersected near the bottom of the hole, with the up-dip extension lying further east under Mallen Lake. The alteration halo is also located only 2km north of AREVA's Mallen Lake showing where drill intercepts of 5.9% U3O8 over 0.3m have been reported in previous drilling.

Drill holes on other targets on the project tested the intersection of structures with known graphitic conductors. Anomalous geochemistry and tectonized sandstone was intersected in five of the holes as well. (see Table 1), with values of 225ppm U over 2.9m in RL-36 and 313ppm U over 0.4m in RL-42.

Drill- U B Ni Pb Cu
hole From - To (metres) (ppm) (ppm) (ppm) (ppm) (ppm)
RL-36 178 to 180.9m (2.9m) 225 25 141 16 4
RL-40 169.3 to 169.9m (0.6m) 57 619 107 37 1016
RL-42 155.7to 156.1m (0.4m) 313 224 176 270 49
RL-46 143 to 143.85m (0.85m) 26 332 134 29 71
RL-47 243.6 to 244m (0.4m) 205 27 29 39 116
RL-51 140 to 141m (1.0m) 25 191 247 48 64
RL-52 124 to 126m (2.0m) 102 33 86 12 2
Table 1: Selected Geochemistry from 2008 Henday Drill-holes

The Mallen Lake illite halo and associated anomalous geochemistry is a positive sign for this project, and upgrades the potential of the property from when it was acquired one year ago. Work proposed for 2009 will include ground gravity surveys over the anomalous areas which proved effective in delineating Hathor's nearby Roughrider zone.

Quality Control/Quality Assurance

Core samples were collected from the 21 drill-holes and shipped in sealed containers to the Saskatchewan Research Council, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory for geochemical analysis using the Uranium ICP Package. This package is the preferred analytical technique for detecting uranium and pathfinder elements in the alteration halos of unconformity-type uranium deposits in the Athabasca Basin. Ken Wheatley, P.Geo. (Saskatchewan, NWT/Nunavut), Forum's Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.

About Forum Uranium

Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.


Richard J. Mazur, P.Geo., President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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